There are a number of tips that it is important for newlyweds to remember as they prepare to buy their first home. First and foremost, newlyweds should establish a price range for their mortgage payments. Many couples may feel more comfortable with a payment on the lower end of their range in order to accommodate for unexpected financial issues. Getting pre-approved for a loan can also remove some of the potential anxiety associated with the process. Once a range has been established, newlyweds should educate themselves on the home-buying process. In fact, some potential buyers can qualify for a better rate if they take an official class for first timers. One aspect covered by this class should be homeowner’s insurance. Any policy should be adequate to ensure the buyer’s house and belongings are safe. In some areas, this may require purchasing hurricane or flood coverage. Finally, newlyweds should discuss their options with a real estate agent to select a home that fits the couple’s needs and budget and to assist in the buying process.
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